Hydro One Limited (TSE:H) Receives Average Recommendation of "Hold" from Analysts

Shares of Hydro One Limited (TSE:H - Get Free Report) have earned a consensus rating of "Hold" from the nine analysts that are currently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$50.10.

A number of research firms recently issued reports on H. Wells Fargo & Company lifted their price target on Hydro One from C$47.00 to C$52.00 in a report on Friday, May 9th. Raymond James Financial cut their price objective on Hydro One from C$48.00 to C$45.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. BMO Capital Markets increased their price target on Hydro One from C$46.00 to C$50.00 and gave the company a "market perform" rating in a research note on Friday, May 9th. Desjardins set a C$58.00 price objective on Hydro One and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Royal Bank Of Canada raised their price objective on Hydro One from C$46.00 to C$53.00 in a research note on Friday, May 9th.

Hydro One Stock Up 0.1%

TSE H traded up C$0.06 during trading on Thursday, hitting C$48.79. 567,051 shares of the company traded hands, compared to its average volume of 1,035,790. Hydro One has a 12 month low of C$42.07 and a 12 month high of C$53.98. The business has a fifty day simple moving average of C$49.34 and a 200 day simple moving average of C$48.19. The company has a market capitalization of C$29.25 billion, a P/E ratio of 25.73, a PEG ratio of 3.17 and a beta of 0.34. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53.

Hydro One Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were given a $0.3331 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $1.33 annualized dividend and a yield of 2.73%. This is an increase from Hydro One's previous quarterly dividend of $0.31. Hydro One's dividend payout ratio (DPR) is presently 66.44%.

About Hydro One

Hydro One operates regulated transmission and distribution assets in Ontario. The area's largest electricity provider serves nearly 1.5 million customers. Transmission accounts for roughly 60% of the company's rate base, with distribution accounting for the remainder. Hydro One operates a small telecom business, Acronym Solutions, with annual revenue contributing less than 1% to consolidated results.